Abe's party wins election in Tokyo
In the past weekend Japanese ruling Liberal Democratic Party won elections in Tokyo area.
While the result was widely expected, it could serve as a sign that the country’s ruling party could take control of the upper house of parliament in elections due to be held next month (July 21).
All this may mean that the Prime Minister Shinzo Abe’s efforts to boost Japanese economy and end deflation are approved by Japanese population. As Abe’s policies have led to weaker yen since the last quarter of 2012, his election victories will likely strengthen the case for the USD/JPY uptrend.